JPMorgan Extends $7 Billion Loan for Texas AI Data Center

According to Odaily, JPMorgan Chase has agreed to provide over $7 billion in loans to companies building a massive AI data center complex in Abilene, Texas, for OpenAI. This deal highlights the ongoing interest of financial institutions and investors in supporting the infrastructure necessary for developing advanced AI software. Previously, JPMorgan had extended $2.3 billion in loans for the initial phase of the Abilene data center project. The latest $7 billion loan will complete the funding required for the construction of the data center. Once completed, the facility will be one of the largest in the world, consisting of eight buildings, each costing $1.4 billion. The data center will have the capacity to house 400,000 Nvidia chips.